Moonpig Group PLC (MOON.L), an online greeting cards and gifting platform, on Thursday announced that Nickyl Raithatha informed the Board of his intention to step down as Chief Executive Officer after seven years in the role.
Separately, Moonpig reported a sharp drop in fiscal 2025 profit before tax, while it slipped to a loss on after tax basis, despite higher revenues from last year. However, adjusted EBITDA increased from last year, and the company projects higher adjusted earnings ahead.
Moonpig is currently 5.95% lesser at 229 pence on the London Stock Exchange.
CEO Raithatha has a 12-month notice period, and the Board has started looking for his replacement. Raithatha will continue to serve as CEO until a new leader is appointed, and will help ensure a smooth handover.
Kate Swann, Chair, noted that the CEO led the Group to a successful IPO on the London Stock Exchange in 2021.
Swann added, "Nickyl leaves the Group in a strong position, with the Group's FY25 results showcasing another year of strong earnings growth and high free cash flow. The Board remains confident in the opportunities ahead."
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